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...Bausch Health will remain a majority shareholder in Bausch & Lomb after the deal....
...Bausch + Lomb is a storied household brand that made $182mn in net income on $3.8bn of revenue last year....
...Just two companies have raised more than $500mn in US IPOs this year — private equity group TPG in January and healthcare group Bausch & Lomb in May....
...Founded in 1853 by John Jacob Bausch in Rochester, New York, Bausch + Lomb grew to be a leader in the lucrative eyecare field....
...A former Bausch & Lomb executive, the 49-year-old built Allergan through a succession of deals that began in 2013 when the company he ran, then called Actavis, bought Ireland-headquartered Warner Chilcott...
...Smart reads David v Goliath Large consumer goods companies are starting to feel the impact of their smaller, more innovative rivals....
...Online travel booker Expedia’s fast-growing digital hotel search site Trivago has registered for an initial public offering, according to a filing on Monday....
...Allergan, a rival drugmaker that had been touted by analysts as a potential buyer for Salix and Bausch & Lomb, Valeant’s contact lens business, said it was not interested in acquiring either....
...His appointment in 2010 as CEO of Bausch & Lomb, an eyecare company, kicked off five years of frenetic dealmaking, starting with the sale of the contact lens maker to Valeant, a drug company, before moving...
...Valeant makes a wide range of drugs, including treatments for prostate cancer and irritable bowel syndrome, but is best known for its skincare products and contact lenses sold under the Bausch & Lomb brand...
...At the end of May, the US company Bausch & Lomb, which has been making contact lenses in the Irish city of Waterford since 1980, announced it was cutting 200 jobs and said that unless the remaining 900 staff...
...Less than two years ago, he was chief executive of Bausch & Lomb, a company he sold, as chance would have it, to Valeant for $8.7bn....
...This transaction would dwarf last year’s $8.7bn purchase of Bausch & Lomb, the lens maker, which was then the biggest by far for Valeant, which has been a serial acquirer....
...Michael Pearson, Valeant’s chief executive, said sales at the unit were growing and declared that his company’s $8.7bn acquisition of Bausch & Lomb last year was “a perfect blueprint for our proposed merger...
...The Canadian company has robustly defended its record, pointing to organic growth from its $9bn acquisition of contact lens maker Bausch & Lomb last year....
...& Lomb....
...Valeant’s successful acquisitions include last year’s $8.7bn takeover of Bausch & Lomb, the eyecare company....
...As part of the arrangement, Bausch & Lomb will retain its brand and division, and Valeant will bring on to its own board Fred Hassan, Bausch & Lomb’s chairman, and hire Dan Wechsler, head of its pharmaceuticals...
...Valeant has taken over more than 35 companies since 2008, including Bausch & Lomb, which it acquired for $8.7bn last year. Botox would fit with Mr Pearson’s approach....
...Mr Saunders was previously chief executive of Bausch & Lomb. Greenhill advised Actavis on the deal, while Forest was advised by JPMorgan. Additional reporting by Madison Marriage and Andrew Jack...
...Actavis itself was a target of Valeant Pharmaceuticals but after the Actavis/Warner Chilcott tie-up, Valeant fixed its gaze on eyecare company Bausch & Lomb, to the delight of Warburg Pincus....
...Bausch & Lomb, the privately held ophthalmology business.”...
...Valeant is closing in on a deal to acquire Bausch & Lomb for about $9bn, said people familiar with the matter....
...In the first, Valeant bought Bausch & Lomb for $8.7bn after losing the race for Actavis, Elan and Royalty Pharma continued to squabble over valuations and AstraZeneca made a small bolt-on purchase....
...Consolidating deals within the sector have also included Actavis, which bought Warner Chilcott for $11bn and Valeant, which took over Bausch & Lomb for $8.7bn....
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